USD/JPY Movements
Looking at the weekly timeframe, UJ has been bearish for over a month now, but we are starting to see wicks to the downside which indicated the pair is slowing down.
At the minute, this pair is still in a downtrend, so all options are option, but my personal bias is that we will begin to see buyers come into the market next week.
For a valid buy on this pair, I would want to see structure broken on 107.000 which is a previous low point for price. If we break this and show some downside rejection I would look for buy entries.
For the time being I see no set-up, but its defaintely one to watch going into next week
At the minute, this pair is still in a downtrend, so all options are option, but my personal bias is that we will begin to see buyers come into the market next week.
For a valid buy on this pair, I would want to see structure broken on 107.000 which is a previous low point for price. If we break this and show some downside rejection I would look for buy entries.
For the time being I see no set-up, but its defaintely one to watch going into next week
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